![]() ![]() Upon flag-off, the programme got its grant from the N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF) under the auspices of the CBN. The policy documents of the programme also indicated that the ABP will boost agricultural lending to farmers and entrepreneurs, strengthen the value chain, reduce commodity importation, alleviate poverty among smallholder farmers, increase employment rate and also develop smallholder farmers to grow from subsistence production levels to commercial productivity. The programme, facilitated and coordinated by the CBN, is aimed at increasing banks’ financing to the agricultural sector and enhancing capacity utilisation of farmlands involved in the production of notable commodities. The scheme, according to Buhari, was established to create economic linkage between anchor companies involved in the processing of agricultural produce and smallholder farmers of the required agricultural commodities. The ABP was inaugurated by President Muhammadu Buhari on November 17, 2015, barely six months into his first tenure. “Earlier demand notices have been issued by NMFB to the last known addresses of the aforesaid customers, hence, this public notice serves as the final demand notice,” it said. “Following the Central Bank of Nigeria’s (CBN) directive to NIRSAL Microfinance Bank Limited (NMFB) to recover all non-performing intervention loans granted by NMFB under the Anchor Borrowers’ Programme (an intervention Scheme of the CBN), NOTICE is hereby given to the under-listed Customers, to offset their indebtedness to NMFB under the said intervention scheme of the CBN,” NIRSAL said in the demand notice. NIRSAL, in the demand notice issued in Abuja, stated that earlier demand notices have been issued by the bank to the last known addresses of the aforesaid customers who failed to comply, adding that the public notice serves as the final demand notice. Others are Asuj Food Production and Processing Ltd, with Abubakar Umaru Jibrilla as the promoter and an exposure of N581.41m Souvenire Seeds Nigeria Ltd with Roseline Omokora as the promoter and an exposure of N158.18m and Con Investment Ltd with Josephine Nwaeze as the promoter with a current exposure of N211.6m. The published list of borrowers with the largest non-performing loans who allegedly defaulted in refunding their loans as agreed include Sadolen Interworld Ltd, with Saidu Audu Adaji and Nura Musa Hassan as promoters, with current exposure of N2.05 billion Arabic Farms and Commodities Ltd, with Alhaji Yusuf Ibrahim Babangida as promoters and a current exposure of N1.22 billion Prime Synergy Global Solutions Ltd., with Mercy Ikeji and Jennifer Nyesom-Effiong as promoters and an exposure of N1.45 billion. The action followed the CBN’s directive to the microfinance bank to recover all non-performing intervention loans granted to beneficiaries under the CBN-facilitated Anchor Borrowers’ Programme. The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, also known as NIRSAL Microfinance Bank Limited, recently issued a final demand notice to agricultural industries that benefited from the Anchor Borrowers’ Programme (ABP) to repay their debts amounting to a total of N5.67 billion.
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